Social Security Survivor Benefits 101 - How It Works

Social Security Survivor Benefits 101 covers the basics that everyone should know about the Social Security Survivors Benefit. This video covers three different scenarios: what the survivor receives if their spouse never filed for Social Security, what they receive if their spouse filed for Social Security at Full Retirement Age (FRA) and what they receive it their spouse filed for Social Security before full retirement age.

Shown below is the survivor payment "haircut" schedule discussed in the video. Note this is current as of 2020.

Survivor's Age - % of Deceased FRA Payment
Age 50-59* - 71.50%
Age 60 - 71.50%
Age 61 - 75.58%
Age 62 - 79.65%
Age 63 - 83.72%
Age 64 - 87.79%
Age 65 - 91.86%
Age 66 - 95.93%
Full Retirement Age and Beyond - 100%
* This applies to those who are disabled only


Important Links:

Federal Reserve Board Survey of Consumer Finances:
https://www.federalreserve.gov/econre...

Social Security Administration Application for Benefits
https://secure.ssa.gov/iClaim/rib

Current Social Security Cost of Living Adjustment
https://www.ssa.gov/cola/

Social Security Payment Estimator
https://www.ssa.gov/benefits/retireme...


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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.